Small Business Saturday spending exceeded expectations
U.S. consumers spent $5.5 billion “Shopping Small”
Small businesses across the country got their holiday season off to a strong start as millions of U.S. consumers “shopped small” on Small Business Saturday and made a big impact on local communities.
According to the second installment of the Small Business Saturday Consumer Insights Survey, released by the National Federation of Independent Business (NFIB) and American Express, consumer awareness of Small Business Saturday jumped to 67 percent from 34 percent just two weeks ago. Of those aware, nearly half (47 percent) shopped on Small Business Saturday.
The increased awareness translated into higher spending. Those U.S. consumers who were aware of Small Business Saturday spent a total of $5.5 billion with independent merchants. Pre-holiday surveys estimated that U.S. consumers would spend $5.3 billion.
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